Potato Volume Up, Price Down for Holidays

A beautiful, early spring means that plenty of potatoes are available for holiday repasts this year with favorable prices for consumers. Unlike 2022, potato farmers did not experience any weather disruptions this year.—thepacker.com

Answer the following questions to check your understanding of the story.

1) According to the news clip, what change occurred in the potato market in 2023 compared to 2022?

In 2023, ____________.

a) the supply of potatoes increased

b) the demand for potatoes increased

c) the supply of potatoes increased and the demand for potatoes increased

d) the quantity of potatoes supplied increased

2) If the only change in the potato market is the change described in question 1, how does the potato market move to its new equilibrium?

As the price falls, ____________.

a) demand decreases until the surplus is eliminated

b) demand increases until the surplus is eliminated

c) the quantity demanded increases until the surplus is eliminated

d) the quantity demanded decreases until the shortage is eliminated

Potato Volume Up, Price Down for Holidays

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